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A one-month tariff reprieve granted by President Trump is set to expire April 2, and automakers Ford (F) and General Motors (GM) are already sounding the alarm. Unconfirmed reports indicate the Detroit giants are lobbying hard for an extension, desperate to avert a supply chain crisis that could throttle production and spike costs. With 25% tariffs looming on imports from Canada and Mexico—key cogs in their North American operations—the stakes are steep.

The grace period, secured after talks with Trump, Ford CEO Jim Farley, GM CEO Mary Barra, and Stellantis (STLA) leadership, bought temporary breathing room. Yet, the clock is ticking. Ford imports 25% of its U.S.-sold vehicles from Mexico, while GM relies heavily on cross-border parts for models like the Chevy Equinox. A tariff hit could tack $3,000-$12,000 onto car prices, hammering demand and leaving dealers with unsold inventory. Farley has called prolonged tariffs “chaos” for the industry, a sentiment echoed by GM’s contingency plans to mitigate up to 50% of the cost—though not without pain.

Behind closed doors, the Big Three are reportedly pressing the administration to stretch the exemption, arguing that 30 days isn’t enough to retool decades-old supply chains. A shift to U.S. production sounds patriotic but requires billions and years—think two to three for a new plant—leaving them exposed. If successful, an extension could steady Ford and GM shares, which jumped 5-7% on the initial delay but remain shaky year-to-date. Failure risks a 10-15% stock dip as margins erode.

The White House insists reciprocal tariffs will roll out as planned, urging automakers to “start moving” production stateside. But with Mexican wire harnesses and Canadian engines entrenched in their operations, Ford and GM face a brutal reality: adapt fast or bleed cash. This tariff showdown is far from over—expect lobbying to intensify as April nears.

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